Key Takeaways
- Bryan Steil has been named chairman of the Subcommittee on Digital Assets, which oversees regulations for digital assets.
- Steil supports legislation that balances innovation with investor protection in the crypto sector.
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Bryan Steil has been name chair of the House Financial Services Committee's Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence.
In this role, he leads efforts to manage digital assets and oversees policies for emerging technologies.
Wisconsin's representative has sponsored major crypto-friendly legislation, including FIT-21 and SAB 121.
FIT-21 aims to establish clear regulatory frameworks for digital assets, ensuring innovation thrives in the US while protecting investors and promoting market transparency.
SAB 121 seeks to address regulatory inconsistency by advocating for a unified approach to digital asset policies, preventing innovation from being pushed abroad.
“Digital assets are changing finance,” Steil said in 2024, stressing that the US must take a leadership role in developing blockchain-friendly policies.
The appointment puts Steil at the helm of efforts to shape regulations for the digital asset, fintech, and artificial intelligence sectors.
His appointment aligns with the House Financial Services Committee's mission to maintain competitiveness while ensuring accountability in financial markets.
Steil has criticized the SEC's approach to crypto regulation, arguing that current policies stifle innovation and drive jobs abroad.
In response, he has prioritized advancing tokenization and Web3 development, aiming to ensure that the US remains a leader in the digital economy.
The Chairman, French Hill, approved the appointment, highlighting the committee's commitment to building a competitive and fair financial system.
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